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Trump Already Says Fed Rate Cut Is Not Enough

Published 03/03/2020, 10:55 AM
Updated 03/03/2020, 10:56 AM
© Reuters.

By Kim Khan

Investing.com - President Donald Trump said Tuesday he wants more monetary easing from the Federal Reserve, even after the central bank made an emergency move to cut interest rates by 50 basis points.

Trump stressed that the Fed had to match the low (and in some cases negative) rates of other nations, comments that seemed to broaden the Fed’s immediate mission to stabilize markets and soften the economic impact of Covid-19.

“The Federal Reserve is cutting but must further ease and, most importantly, come into line with other countries/competitors,” Trump tweeted. “We are not playing on a level field. Not fair to USA. It is finally time for the Federal Reserve to LEAD. More easing and cutting!”

Before Trump’s tweet Treasury Secretary Steve Mnuchin said the Fed’s action should be applauded and that the half-point cut was “non-political”.

Latest comments

50 bps cut during an emergency meeting while the fed is loading the truck up with gold is a very bad oman
Trump can build nothing because they do not have the ability. Always rely on someone else to make them look good
Trump sounds desperate
Trump is going to start pushing for QE soon.
Lmao, if I am Powell, I would say, we may cut rates to -5%, haha, then asks Trump to stop longs.
It's not political, really?
Seems we need more, maybe 100 or 200 points? How does current rate compares to other countries?
 No, the easy currency printing is going to be this country's downfall. Look at how much consumer DEBT there is. People are going to get burned especially those who bought stocks on MARGIN. It's 1929 all over again. The 2008 QE just bought the markets time to prepare for the Big Kahuna. This is it. This is our bed. Now we must lay in it.
 How can they fight fear then, it's not like they can close markets, because fear is what is selling the markets and a lot of people get caught in the middle losing their saving or their pensions. Can US just start buying up falling stocks, preventing them from falling? China can probably do that, can US match that?
How do we compare to other countries? Other countries with such a massive deficit? If we going sharply negative in the US, you will see a bank run like nowhere else.
Trump is freaking out because the stock market continues to fall even though the Fed just cut rates by 50 points....  The U.S.S. Donald Trump is sinking.... Abandon ship!!
50 is solid. That should be it.
AAaaaaand back to 0% we go
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